• Promotions
  • About
  • Contact Us
SUBSCRIBE
FintechMode
  • Fintech
  • Finance
  • Crypto
  • Business
  • PR
No Result
View All Result
SUBSCRIBE
  • Fintech
  • Finance
  • Crypto
  • Business
  • PR
No Result
View All Result
FintechMode
Home News Finance

eToro And Fintech V Cancel Their Merger IPO Due To External Circumstances

JP Buntinx by JP Buntinx
July 8, 2022
in Finance, Fintech
56 2
0
eToro And Fintech V Cancel Their Merger IPO Due To External Circumstances
Share on FacebookShare on Twitter

Many people were surprised when eToro Group canceled its initial public offering this week. The initial plan involved merging with Fintech Acquisition Corp. V (FinTech V). However, the plans have been put on hold as the merger failed to meet closing conditions ahead of the June 30, 2022 deadline. 

eToro Delays Its IPO

It is unfortunate when carefully laid out plans do not come to fruition. eToro Group had a bold plan to launch its IPO through a merger with Fintech V. Those plans were set in motion in March 2021, giving all parties ample time to ensure the conditions could be met. Even so, the deal fell through at the last moment due to falling short of closing conditions within the expected timeframe. 

Related articles

The Complexities of a Digital Euro Cause Discourse Among Experts

The Complexities of a Digital Euro Cause Discourse Among Experts

November 29, 2023
Why Debit Cards Are An Essential Part of Accepting Payments

Why Debit Cards Are An Essential Part of Accepting Payments

November 28, 2023

The bold plan by eToro would have put the company at an estimated valuation of $10.4 billion. That number was thrown around in March 2021, although it remains unclear if such a target is plausible in the current market conditions. Many companies struggle to maintain earlier valuations, and eToro’s figure only exists on paper. 

eToro CEO and Co-founder Yoni Assia adds:

“While this may not be the outcome that we hoped for when we started this process, eToro’s underlying business remains healthy, our balance sheet is strong and will continue to balance future growth with profitability.”

Moreover, eToro remains one of the premier social investment platforms globally. Its track record of growth and proven momentum speaks for itself, with more potential ahead. However, the falling through of this deal is not the fault of either company. External events and circumstances have a habit of throwing a wrench into plans, especially in recent years. 

Disclaimer

Please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. FintechMode is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

Tags: eToroFintech VIPOMerger
Share76Tweet47
JP Buntinx

JP Buntinx

Related Posts

The Complexities of a Digital Euro Cause Discourse Among Experts

The Complexities of a Digital Euro Cause Discourse Among Experts

by JP Buntinx
November 29, 2023
0

The concept of a digital euro presents many complexities, as seen in recent discussions within the European Parliament. Lawmakers and...

Why Debit Cards Are An Essential Part of Accepting Payments

Why Debit Cards Are An Essential Part of Accepting Payments

by JP Buntinx
November 28, 2023
0

Debit card payments have maintained popularity in 2023, primarily for in-person purchases. Their use remained consistent with 2020 levels, even...

Nouriel Roubini: Stagflation Will Cost Investors Dozens of Trillions of Dollars

Nouriel Roubini: Stagflation Will Cost Investors Dozens of Trillions of Dollars

by JP Buntinx
November 28, 2023
0

In a time when the global economy faces unprecedented challenges, the concept of “stagflation” has emerged as a pivotal factor...

The Cost of Shadow Banking In China: Zhongzhi Debacle May Cost Investors $56 Billion

The Cost of Shadow Banking In China: Zhongzhi Debacle May Cost Investors $56 Billion

by JP Buntinx
November 27, 2023
0

The unfolding crisis at China’s Zhongzhi Enterprise Group Co. is a stark reminder of the risks inherent in shadow banking....

Ripple and Metaco: Pioneering the Future of Digital Asset Custody With HSBC?

Ripple and Metaco: Pioneering the Future of Digital Asset Custody With HSBC?

by JP Buntinx
November 27, 2023
0

Metaco, a Swiss-based digital asset custody firm, was acquired by Ripple earlier this year. This strategic acquisition has opened new...

Load More
  • Trending
  • Comments
  • Latest
BinaryX Launches AI Chat Game ‘AI Hero’ With Limited NFT Mints

BinaryX Launches AI Chat Game ‘AI Hero’ With Limited NFT Mints

November 28, 2023
Wake: New Open-Source Tooling on Ethereum to Stop Bugs

Wake: New Open-Source Tooling on Ethereum to Stop Bugs

November 28, 2023
Web3 Partnership Announcement: Bridging the StarHolder Journey into the Mooniverse

Web3 Partnership Announcement: Bridging the StarHolder Journey into the Mooniverse

December 5, 2023
Australia Has Confusing New Crypto Tax Guidelines

Australia Has Confusing New Crypto Tax Guidelines

December 1, 2023
What Should You Do Now That Bitcoin Has Reclaimed Records Highs?

What Should You Do Now That Bitcoin Has Reclaimed Records Highs?

0
New Greece-Bulgaria Gas Pipeline Reduces Reliance On Russia

New Greece-Bulgaria Gas Pipeline Reduces Reliance On Russia

0
Challenger Bank North Winds Down After Unsuccessful Fundraising

Challenger Bank North Winds Down After Unsuccessful Fundraising

0
USDC Will Integrate With Decentralized Social to Bring Web3 to The Masses

USDC Will Integrate With Decentralized Social to Bring Web3 to The Masses

0
Match Chain Mainnet Ready to Roll Out in March

Match Chain Mainnet Ready to Roll Out in March

December 8, 2023

Top Infrastructure providers join Flare to enable the Blockchain for Data

December 8, 2023
Gate.io Lend & Earn Reaches New Heights with $500M in Loaned Assets

Gate.io Lend & Earn Reaches New Heights with $500M in Loaned Assets

December 8, 2023

Sui Joins DeFi Leaders, Topping $100M in Bridged USDC

December 7, 2023

Dedicated cryptocurrency and fintech news that includes various interesting material available in the market today. 

Categories
  • Blockchain
  • Business
  • Crypto News
  • Cryptocurrency
  • Featured
  • Finance
  • Fintech
  • Markets
  • Metaverse
  • Metrics
  • News
  • PR
  • Stocks
Tags
AI Apple Australia Bank Banking Banks Binance Bitcoin Blockchain Brazil Cardano CBDC China Coinbase Crypto Cryptocurrency DeFi Digital Assets Elon Musk Ethereum Federal Reserve Finance Fintech FTX Gold Inflation Investing Layoffs Mastercard Metaverse Money NFT Payments PayPal Regulation Revolut Russia SEC Stablecoin Stablecoins Stock Market Stocks UK Visa Web3
Newsletter

Subscribe to our mailing list to receives daily updates direct to your inbox!

This field is for validation purposes and should be left unchanged.
  • About
  • Editorial Policy
  • Promotions
  • Contact Us
  • Privacy Policy
  • Terms and Conditions

Disclaimer:

Any financial and crypto market information given on FintechMode is written for informational purpose only and is not an investment advice. Conduct your own research by contacting financial experts before making any investment decisions, more information here.

© Fintechmode.com

No Result
View All Result
  • Fintech
  • Finance
  • Crypto
  • Business
  • PR

© Fintechmode.com - A subsidiary of the NoRestMode organization.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Subscribe To Our
Mailing List

Sign up for our newsletter with the best in fintech news.

This field is for validation purposes and should be left unchanged.